Dance with Chance: Making Luck Work for You by Spyros Makridakis & Robin Hogarth & Anil Gaba

Author:Spyros Makridakis & Robin Hogarth & Anil Gaba [Makridakis, Spyros]
Language: eng
Format: mobi
Publisher: Oneworld Publications
Published: 2009-05-01T04:00:00+00:00

• Second, we humans are very quick to see patterns in the world around us. As we saw in chapter 1, that probably makes sense from an evolutionary point of view. Detecting regularity in nature has brought our species many benefits: science, to name just one.

Figure 9a, 9b, 9c Cumulative gains/losses when a coin is flipped 100 times (each bet €500)

Figure 9d, 9e, 9f Cumulative gains/losses when a coin is flipped 100 times (each bet €500)

• Third, we can’t always be accurate in determining whether or not such patterns really do exist. On the other hand, as we evolved, it was probably better to err on the side of seeing regularity than randomness. That may have led to a few superstitious beliefs along the evolutionary way, but the costs of everyday superstitions are typically trivial.

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